IB-A-Level-Economics-Revision-Guide-2015-V1-250x350

IB Economics revision guide

£9.50

  • E-book (comes in pdf format shortly after purchase.)
  • Specific IB Economics revision guide (Sections1,2,3,4) – just £9.50
  • Updated for current IB Economics syllabus
  • Trademark simplicity and clarity of presentation.
  • Significantly expanded on the previous version, with not just required knowledge, but also examples of evaluation for each topic.
  • For schools: Network License – IB Economics (£95.00) (allowing unlimited use)
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Product Description

  • Recently updated and expanded
  • It is designed specifically for IB economics.

IB economics revision guide  (E-Book)

  • Simple yet detailed.
  • Suggested model answers
  • All main diagrams needed for IB Economics
  • Tips on writing evaluation – Essential for getting top grades
  • Updated: 2015.
  • Revision guide sent shortly after purchase.

Syllabus – Micro economics Section 1

  • Foundations of economics
    • Economic models
    • Positive economic statements
    • Rational decision making
  • Scarcity
    • Choice and opportunity cost
    • Production possibility frontiers (PPF)
    • Possibility frontier and economic growth
  • Markets
  • Demand
    • Shifts in the demand curve
    • Linear demand curve (HL)
  • Supply
    • Shifts in the supply curve
    • Linear supply curve (HL)
  • Market equilibrium
    • Calculating equilibrium using linear equations (HL)
  • Allocation of resources
  • Consumer surplus
  • Producer surplus
  • Elasticity
    • Using knowledge of elasticity
    • The impact of elasticity on tax
    • Income elasticity of demand (YED)
    • Cross elasticity of demand
    • Price elasticity of supply
  • Tax
    • Reasons for tax
    • Tax and linear supply curves (HL)
  • Subsidy
  • Price controls
  • Maximum prices
  • Minimum prices
  • Market failure
    • Externalities and social efficiency
    • Negative externality
    • Positive externality
    • Private good
    • Public good
    • Merit good
    • Demerit good
    • Common access resources
  • Policies to overcome market failure
    • Tax
    • Cap and trade
    • Monopoly power
  • Theory of the firm and market structures (HL)
  • Costs of production
  • Law of diminishing returns
  • Economies of scale
  • Diseconomies of scale
  • Revenue
  • Profit
  • Whether a firm will produce
  • Profit maximisation
  • Business objectives
  • Perfect competition
  • Types of efficiency
  • Monopoly
  • Barriers to entry
  • Revenue maximisation and elasticity
  • Monopolistic competition
  • Oligopoly
  • The kinked demand curve
  • Game theory and the prisoner’s dilemma
  • Collusive behaviour
  • Price discrimination

 

  • Application of theory: Principles of economics
  • Application of knowledge – environment
  • Application of knowledge: business economics

Unit 2 Macroeconomics

  • Circular flow of income
    • Measuring national income
    • Gross domestic product GDP, GNP, GNI (HL)
    • GDP as a measure of living standards
    • Economic cycle
  • Aggregate demand
    • Consumer spending (C)
    • Investment (I)
    • Government expenditure (G)
    • Net trade (X-M)
    • Accelerator effect
  • Aggregate supply (AS)
    • Short-run aggregate supply SRAS
    • Long-run aggregate supply (LRAS)
  • Macroeconomic equilibrium
    • Classical view of short-run growth
    • Output gaps
    • The Multiplier  (HL)
  • Unemployment
    • Measuring unemployment
    • Causes of unemployment
    • The natural rate of unemployment
    • Policies to reduce unemployment
  • Inflation and deflation
    • Calculating inflation (HL)
    • Costs of inflation
    • Problems of deflation
    • Causes of deflation
    • Causes of inflation
    • Relationship between unemployment and inflation (HL)
  • Economic growth
    • Short-run economic growth
    • Long-run economic growth
    • Benefits of economic growth
    • Potential costs of economic growth
  • Poverty and inequality
    • Measuring inequality
    • Income deciles
    • Poverty
    • Income distribution and welfare
    • Causes of income inequality
    • Causes of wealth inequality
  • Taxation
    • Marginal and average tax rates (HL)
  • Policies to reduce poverty
  • Levels of government spending
  • Government borrowing
  • The National Debt
  • Fiscal policy
    • Expansionary fiscal policy
    • Deflationary fiscal policy
  • Monetary policy
  • UK monetary policy
    • Evaluation of monetary policy
    • Quantitative easing
    • Loanable funds theory
  • Supply side policies
    • Market-oriented supply-side policies
    • Interventionist supply-side policies
    • Evaluation of supply-side policies

Section 3:  International economics

  • Absolute and comparative advantage (HL)
    • Example of trade (HL)
    • Restrictions on free trade
    • The effects of tariffs (HL)
    • The effect of quotas
    • Benefits of free trade
    • Arguments for restricting trade
    • WTO
  • Exchange rates
    • Factors that influence exchange rates
    • Managed exchange rates (Managed float)
    • Appreciation in the exchange rate
    • Evaluation of an appreciation
  • The balance of payments
    • Current account
    • Factors that cause a current account deficit
    • Policies to reduce a balance of payments deficit
    • Current account surplus (HL)
  • Economic integration
    • Forms of integration
    • Monetary Union
  • Terms of trade  (HL)
    • Factor influencing terms of trade (HL)
    • Effect of deterioration in terms of trade (HL)

Section 4: Development economics

  • Measuring economic development
  • Human development index (HDI)
  • Relationship between economic growth and development
  • Characteristics of LEDCs
  • Poverty cycle
  • United Nations Millennium Development Goals
  • Trade problems faced by less developed economies
  • Foreign debt
  • Strategies to promote growth and development

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